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Ukrnafta increased reserves by 3 million tons of oil and 0.6 billion cubic meters of gas

23 Apr, 2024
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Ukrnafta increased reserves by 3 million tons of oil and 0.6 billion cubic meters of gas

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PJSC Ukrnafta increased reserves and resources by more than 3 million tons of oil and 0.6 billion cubic meters of gas due to the expansion of the boundaries of existing special permits in western Ukraine, announced the company's director, Serhiy Koretskyi, on Facebook.

"The reason for expanding the boundaries of special permits is to align them with the contours of productive deposits. Orders have already been received from the State Service of Geology and Subsoil of Ukraine," he wrote.

In particular, the area of ​​the first site increased by over 50% after the expansion and now amounts to 0.93 square kilometers. The total volume of reserves increased by 221 thousand tons of oil and 19 million cubic meters of gas.

The area of ​​the second site increased by a third, to 8.7 square kilometers. The total volume of reserves increased by 836 thousand tons of oil and 402 million cubic meters of gas.

The third special permit was expanded by 36%, and the area of ​​the site now stands at 7.12 square kilometers. The total volume of reserves increased by over 1.9 million tons of oil and 205 million cubic meters of gas dissolved in oil.

Koretskyi also clarified that until 2023, Ukrnafta only expanded the boundaries of special permits twice, and last year, thanks to the expansion of the boundaries of two deposits, the total reserves increased by 330 thousand tons of oil and condensate and 618 million cubic meters of gas.

As reported, in 2023, Ukrnafta increased oil production with condensate by 3% (by 39.9 thousand tons) compared to 2022, to 1 million 409.9 thousand tons, and gas by 5.8% (by 60.4 million cubic meters), to 1 billion 97.4 million cubic meters.

The company aims to double oil and natural gas production to 3 million tons and 2 billion cubic meters, respectively, by 2027.

"Ukrnafta" is the largest oil production company in Ukraine and operates the national network of gas stations with 537 stations, of which 456 are operational. The company is implementing a comprehensive program to restore activities and update the format of its gas station network. Since February 2023, Ukrnafta has been issuing its own fuel vouchers and NAFTA Card cards, which are sold to legal and natural persons through LLC "Ukrnafta-Postach."

The largest shareholder of Ukrnafta is NJSC Naftogaz of Ukraine with a stake of 50%+1 share. On November 5, 2022, the Supreme High Command of the Armed Forces of Ukraine made a decision to transfer to the state the corporate rights of the company that belonged to private owners, which is currently managed by the Ministry of Defense.

The Odessa Journal

The Odessa Journal

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